Lundbeck's 3rd-qtr 2008 net profit drops 11%
Danish drugmaker H Lundbeck says that net profit in the third quarter of 2008 dropped 11% year-on-year to 713.0 million Danish kroner ($122.6 million), with earnings per share of 3.49 kroner, down 7%.
The Copenhagen-based firm saw revenues fall 5% to 2.96 billion kroner as sales of Lexapro (escitalopram) fell 14% due to its decision to reduce the inventories held by US marketing partner, Forest Laboratories. Turnover of Lundbeck's Cipralex brand of the antidepressant rose 17% to 1.05 billion kroner.
Sales of Alzheimer's therapy Ebixa (memantine) rose 11% to 432.0 million kroner, while income from Parkinson's disease drug Azilect (rasagiline) rose 40% to 46.0 million kroner and schizophrenia treatment Serdolect (sertindole), soared 43% to 10.0 million kroner.
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